S. 147: Reassessment-Objection not disposed by the Assessing Officer-Reassessment is bad in law-Power of enhancement with the CIT(A) cannot cure the defects of non disposal of objection by the Assessing Officer. [S. 148, 251]
S. 147: Reassessment-Objection not disposed by the Assessing Officer-Reassessment is bad in law-Power of enhancement with the CIT(A) cannot cure the defects of non disposal of objection by the Assessing Officer. [S. 148, 251]
S. 145 : Method of accounting-No defects in the books of account-Estimation of income at 10% of the gross contract receipt is affirmed.[S.145(3)]
S. 143(3): Assessment-Rejection of books of account-Bogus purchases-Estimate of profit-Business of purchase, sale, manufacturing and trading of gold jewellery and diamonds-Declared profit of 11.98 percent-Rejection of books of account and estimate of 25% of alleged bogus purchases is deleted.[S. 145(3)]
S. 115JB : Company-Book profit-Book profit under S. 115JB is to be computed without resorting to computation under S. 14A-Disallowance under S.14A cannot exceed the exempt income. [S. 14A, R.8D]
S. 90 :Double taxation relief-Capital gains-Sale of shares-Exempt from tax-DTAA-India-Mauritius.[S.90(2), 90(2A) Art. 13, 27A]
S. 90 : Double taxation relief-Valid registration certificate-Denial of exemption is not justified-DTAA-India-UAE [Art. 24(2)(b)((ii)]
S. 80G : Donation-Preservation of environment-Engaged in the recycling of plastic waste-Charitable activity-Entitle to registration under section 80G (5). [S. 11, 12, 80G(5)(ii), Bombay Public Trust Act 1950]
S. 69B : Amounts of investments not fully disclosed in books of account-Search-Gold bullion-Received though will-Deletion of addition by CIT(A) is affirmed. [S. 132(4),153A]
S. 69B : Amounts of investments not fully disclosed in books of account-Alleged on money-Land-Agreement to sale-Agreement is not acted upon-Opportunity of cross examination is not granted-Addition is deleted-Reassessment-Incorrect facts-Reassessment is quashed. [S. 133A, 147, 148]
S. 69A : Unexplained money-Undisclosed income-Search-Loose sheets-Dumb documents-On money-No reference of the assesseee in the alleged documents seized-Provisions of S. 132(4A) and 292C cannot be applicable-Addition cannot be made on the basis of suspicion and surmise.[S. 132A, 153A, 292C]